April data records strong demand at home and abroad that will calm concerns about a Brexit slump in the economyBritain’s factories enjoyed their fastest growth for three years last month on the back of strong demand at home and abroad, according to a survey that will temper worries about a Brexit-driven economic slowdown this year. The manufacturing sector, which makes up about a tenth of the UK economy, enjoyed the strongest pick-up in new work since the start of 2014 and smashed expectations in April. Firms also took on new workers at a faster pace and ramped up production, the closely watched Markit/CIPS UK Manufacturing PMI (pdf) showed. The latest manufacturing report signalled that strong demand came from the domestic market as well as overseas, continuing a pattern of export support for UK firms from the weaker pound. The PMI report’s compilers said strength and demand from North America, Europe, Africa and Brazil were helping UK factories.

Source: The Guardian May 02, 2017 10:18 UTC